Bitcoin Dips to $100K Amid Trump-Musk Dispute
The Essentials at a Glance
- Bitcoin briefly dropped to 100,000 US dollars.
- Over 324 million US dollars in long positions were liquidated.
- Trigger was a public dispute between Donald Trump and Elon Musk.
- 32,000 BTC flowed into exchanges – a clear sign of panic selling.
- Market shows initial signs of recovery, resistance at 105,900 US dollars in focus.
Political Tensions Weigh on the Bitcoin Market
A public conflict between former US President Donald Trump and Tesla CEO Elon Musk has shaken the crypto market. The Bitcoin price fell from 105,900 to 100,000 US dollars within a single day. Political uncertainty led to massive sell-offs and liquidations in the futures market.
Massive Liquidations in the Futures Market
According to data from CryptoQuant, long positions worth 324 million US dollars were liquidated. These positions bet on rising prices. However, as the market declined, these bets were forcibly closed. Particularly notable: even experienced traders like James Wynn were liquidated multiple times.
Decline in Open Interest and Negative Funding Rate
Open interest – the total capital in open futures contracts – dropped from 34.8 to 34.2 billion US dollars. At the same time, the funding rate turned negative for the first time in 30 days. This means that short positions (bets on falling prices) currently dominate the market.
High Inflows to Crypto Exchanges
Over 32,000 BTC were transferred to centralized exchanges within a short period. Binance alone recorded an inflow of 2,500 BTC. Such movements indicate selling pressure. Many investors appear to have panicked and sold off their holdings.
Initial Signs of a Recovery
After the rapid price drop, the first positive signals are emerging. Net inflows to exchanges are negative again – meaning more Bitcoin is being withdrawn than deposited. This suggests that investors are taking advantage of lower prices to buy. If demand continues, Bitcoin may retest the resistance at 105,900 US dollars.
Key Price Zones for Short-Term Investors
For short-term holders (STH), the critical range lies between 101,000 and 104,000 US dollars. In this area, over 1.37 million addresses hold approximately 707,000 BTC. The next strong support level is at 97,500 US dollars – this is where the market may find a bottom if downward pressure persists.
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Our Assessment
The price drop to 100,000 US dollars was sharp but short-lived. Political events have shown how sensitive the market is to external influences. The quick recovery and negative net exchange inflows point to a certain level of market stability. Nevertheless, the market remains vulnerable in the short term. Investors should closely monitor political developments and market indicators. For traders, there are currently both opportunities and risks.
Sources
- CryptoQuant
| Symbol | BTC |
| Coin type | Alt Coin |
| Transaction Speed | Slow |
| Pros |
|
| Cons |
|
| Further practical applications | |
| Price | 104941 |
| 24h % | 1.65 % |
| 7d % | 1.14 % |
| 30d % | 5.88 % |
| 60d % | 32.09 % |
| 1y % | 47.61 % |
| Market Cap | $2,085,790,628,224.00 |
| Max. Supply | 21,000,000.00 |
| Official Links | Website | Whitepaper | Source Code |
| Socials | Reddit | X | Message Board |
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